SAO PAULO, Nov. 9, 2012 /PRNewswire/ -- EZTEC S.A. (BOVESPA: EZTC3)celebrates its 33rd anniversary as one of the most profitable builders and developers in Brazil. The Company announces its results for the third quarter of 2012 (3Q12). Except where stated otherwise, EZTEC's operating and financial information is presented on a consolidated basis and in Brazilian real (R$), in accordance with Generally Accepted Accounting Principles in Brazil ("BR GAAP") and the International Financial Reporting Standards (IFRS) applicable to real estate developers in Brazil, as approved by the Accounting Pronouncement Committee (CPC), Securities and Exchange Commission of Brazil (CVM) and Federal Accounting Board (CFC).

Highlights

Net Revenue reached R$598.8 million in 9M12, up 12.8% from 9M11.

Gross Profit was R$315.4 million in 9M12, up 18.8% from 9M11, with Gross Margin of 52.7%, (12.7 p.p. above our guidance for the year).

EBITDA was R$238.1 million in 9M12, increase of 18.5% from 9M11, for EBITDA Margin of 39.8%.

Net Income was R$252.0 million in 9M12, with net margin of 42.1%, 12.1 p.p. above the guidance for the year, representing Earnings per Share of R$1.718 and Annualized ROE of 24.7%.

EZTEC kept its financial strength in 3Q12, ending the periodwith Cash Equivalents and Financial Investments of R$165.6 million. Excluding the debt of R$139.0 million (being exclusively of SFH financing), the Company's Net Cash stood at R$26.6 million, which was complemented by Performed Receivables from real estate projects of R$232.6 million, which are available for securitization and yielding IGP-M + 12% p.a.

In the 3Q12, the Company launched 5 projects: the middle-high end residential The View Nova Atlantica, in the south zone of Sao Paulo, with own PSV of R$81.0 million; the commercial project Green Work, located in the south zone of Sao Paulo, with own PSV of R$140.2 million; the middle-high end residential projects Up Home Santana and Chacara Cantareira, both in the north zone of Sao Paulo, with own PSV of R$49.0 million and R$76.5 million respectively; and the middle-end residential project Prime House Sao Bernardo, in the city of Sao Bernardo, a part of the Sao Paulo Metropolitan Area (SPMA), with own PSV of R$149.4 million, totaling R$822.5 million launched in the 9M12. As a result, EZTEC achieved 68.5% of the lowpoint of its launch Guidance for 2012.

EZTEC's stake of Contracted Sales, net of brokerage commissions and rescissions, reached R$665.4 million in 9M12, growth of 4.8% from 9M11.

As of September 30th, 2012, EZTEC's Land Bank (ex-EZ Tower) totaled R$4.3 billion in own PSV. The average cost of lot acquisitions, including the costs associated with expanding construction potential, is equivalent to 10.2% of PSV.

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